Janet Yellen did it. Goldman Sachs was correct. We have liftoff! After the comforting Fed interest rate announcement by the Federal Open Market Committee that it will raise interest rates by 1/4 point for the first time in seven years, the S&P 500 finished trading up a strong 29.66 points. Goldman was correct on December rate rise, while others say “what took so long?” In a statement today, the FOMC raised its target rate for the federal funds rate to a range of 0.25-0.50 percent, ending a seven-year period at 0-0.25 percent. In a flash report out after the announcement, Goldman…
Yellen Surgery Initially Successful, Rates Rise Stocks Up Big
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.